Given the Equations for C,I,G,and NX Below,what Is the Equilibrium

question 214

Multiple Choice

Given the equations for C,I,G,and NX below,what is the equilibrium level of GDP? C = 1,000 + 0.8Y
I = 1,500
G =1,250
NX = 100

• A)$3,080
• B)$3,850
• C)$6,930
• D)$19,250

Comprehend the role of norms in evaluating social and personal success.

Grasp the influence of societal views and self-perceptions on minority groups' identity.

Understand how race, ethnicity, and gender affect adolescents' self-esteem and identity.

Learn about the challenges and adaptations of immigrant children in a new country.

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Definitions:

Long-Run Equilibrium

A state in which all aspects of the economy, including supply and demand, are in balance, and all economic agents have fully adjusted to any changes.

Decrease in Demand

refers to a situation where consumers' desire and ability to purchase a product or service diminishes, leading to a downward shift in the demand curve.

Short Run

A time period in economics during which at least one input (such as plant size) is fixed and cannot be changed.

Long Run

A period of time in economics during which all factors of production and costs are variable, allowing full adjustment to changes.